By this logic, the real economic value in a Princeton degree is not the vaunted Princeton education, but in signaling potential employers that you are smart enough to get into Princeton.
Of course the logic behind the new calculation comes after the financial crisis when the value of homes plummeted, and homeowners had meanwhile invested in complex securities that, in many cases, had dropped in value as well.
Price and value, the two opposing ideals which drive equities often seems to be void of logic whenever I see stocks such as Salesforce.com and Amazon carry on to grossly absurd levels.
Although it seems a bit odd to take lessons in core competences and shareholder value from an autocrat who balances handbags and cognac, Mr Arnault's plan has some logic.